President Bola Ahmed Tinubu has presented the 2025 Appropriation Bill, outlining his administration’s vision for economic recovery and national progress.
Presenting the ₦47.96 trillion budget at a joint session of the National Assembly on Wednesday, Tinubu described it as the “Budget of Restoration, Securing Peace, and Building Prosperity.” He highlighted key achievements of the 2024 budget and detailed plans to address economic challenges, stimulate growth, and invest in critical sectors.
Highlights of the Budget Presentation
- Extension of the 2024 Budget Implementation
Senate President Godswill Akpabio announced that the implementation of the 2024 Appropriation Act will now extend to June 2025. He revealed that budget performance currently stands at 50% for Capital Expenditure and 48% for Recurrent Expenditure, emphasizing the need for continuity to ensure project completion. - Education Investment
Tinubu disclosed that ₦34 billion has been disbursed through NELFUND, benefiting 300,000 students nationwide and promoting access to education. - Revenue and Expenditure Achievements
- Revenue: The government has generated ₦14.55 trillion, achieving 75% of its target by Q3 2024.
- Expenditure: Total spending reached ₦21.60 trillion, representing 85% of the year’s planned goal.
- Sectoral Allocations for 2025
- Defence: ₦4.91 trillion
- Infrastructure: ₦4.06 trillion
- Health: ₦2.48 trillion
- Education: ₦2.5 trillion
Milestones in the 2024 Budget
President Tinubu lauded his administration’s accomplishments under the 2024 budget, stating:
“Our administration has attained remarkable milestones in implementing the 2024 Budget. While challenges persist, we improved revenue collection and fulfilled key obligations. The transformational effects on our economy are gradually being felt.”
Lawmakers’ Reaction
Key figures at the session included Senate President Godswill Akpabio and House Speaker Abbas Tajudeen, who pledged to meticulously review the budget’s provisions, particularly in light of the government’s economic reforms.
The 2025 Appropriation Bill represents a cornerstone of Tinubu’s economic agenda, with an ambitious roadmap focused on long-term growth, national stability, and addressing citizens’ pressing needs.
About the Author
